Private equity director William “Bill” Chisholm has officially become the newest owner of the Boston Celtics, purchasing a controlling stake in the franchise for a record-breaking valuation of $6.1 billion. The transition of ownership will take place over the coming years, with current owner Wyc Grousbeck remaining in his role as team governor throughout the process.
Following the announcement, Chisholm expressed his excitement and deep connection to the team in a statement via Business Wire.
“Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,” Chisholm said. “I understand how important the Celtics are to the city of Boston—the role the team plays in the community is different than any other city in the country. I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.”
Chisholm also acknowledged the contributions of the Grousbeck family and the team’s leadership, stating that he and his partners look forward to working alongside Brad Stevens, Joe Mazzulla, and the rest of the Celtics organization to continue building on their success.
Grousbeck, who has been the Celtics’ controlling owner since 2002, also released a statement, praising Chisholm’s passion for the team and his commitment to winning.
“Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” Grousbeck said. “His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team. He has asked me to run the team as CEO and Governor for the first three years and stay on as his partner, and I am glad to do so.”
With the ownership change now in motion, a new era for the Celtics begins, and it remains to be seen what impact, if any, the transition will have on the franchise’s future direction.